The national conforming loan limit is $453,100. That means that any loan amount that falls under that limit is considered a conforming loan. Depending on the county that a property is located in, the conforming loan limit can also increase into what is called a high balance conforming loan. If the average home price in a given county is higher it could increase the conforming loan limit. Anything above the max conforming loan limit in a given county is considered a Jumbo loan. Since they will not be sold to Fannie Mae or Freddie Mac, Jumbo loans typically have a minimum down payment of 15%-20% and follow specific underwriting guidelines depending on the investor that is doing the loan.
*The Product/Program information contained here is educational only and does not represent actual rates or financing terms.
* Other conditions and restrictions may apply. Available programs are subject to change without notice. Contact your loan officer for more information
303.471.8080
Download the Jordan team app